Market leading insight for tax experts
View online issue

R Grint v HMRC

In R Grint v HMRC [2016] UKFTT 537 (3 August 2016) the FTT found that a trader had not changed his basis period.

A trader pays tax on his profits from a trade in relation to ‘basis periods’. Mr Grint had an annual accounting date of 31 July. He decided to change his accounting date to 5 April in order to bring into account in the tax year 2009/10 income earned in the 20 month period from 1 August 2008 to 5 April 2010. This would bring forward his liability thus avoiding the new 50% tax rate on the relevant income. ITTOIA 2005 s 216 permitted him to do so if the conditions set out in s 217 were met. HMRC contended that they were not.

The FTT found that the new accounts were accounts as understood by the accountancy profession; they met the legislative requirements of s...

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.